A representative of “Uzbekneftegaz” has told the information agency Trend about plans of joint off-shore projects with Azerbaijani and Turkmen colleagues on the Caspian coast.
According to the media outlet, the memorandum with the state-run holding“Turkmennebit” (“Turkmenneft”) envisages “establishing mutually beneficial and long-term cooperation in joint exploration and development of offshore fields on the Caspian coast of Turkmenistan”.
Further on the sides intend to conclude the production-sharing contract on hydrocarbon productions.
“The projected collaboration will allow to increase the workload of manufacturing capabilities at oil refineries of the two countries”, a representative of the Uzbek holding said.
Let us recall that the agreement pertaining to participation of “Uzbekneftegas” in oil production on the Turkmen coast of the Caspian sea was signed in late May during the course of Uzbek President’s visit Shavkat Mirziyoyev to Turkmenistan. In exchange Uzbekistan agreed to transit Turkmen electric power using its power networks.